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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. For your business process, owners of approval units should be able to lock and unlock data without going through an approval process.
Which action should you perform?

A) Select users with the Service Administrator security role.
B) Delete the default Approval Unit hierarchy.
C) Select the Consolidation template when setting up the Approval Unit hierarchy.
D) Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.

2. Which statement is true of reporting currencies?

A) All reporting currency members have the suffix Reporting.
B) All input currencies that you add are automatically added as reporting currencies as well.
C) When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
D) During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.

3. You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)

A) Select level 0 dimension members for POV\ rows, and columns. www*'
B) Grant the data input users Write access to the dimension members used on the form.
C) In the member selection for Entity, do not include shared entities; include only primary instances of entities.
D) Set the currency on the form to Parent Currency.
E) Set the consolidation member on the form to FCCS Entity Input.

4. Which statement about Opening Balance Override rules is true?

A) They are available only if Intercompany Data with Tracking is enabled for the business process.
B) You can select which accounts to include in the rule scope.
C) You can select which entities to include in the rule scope.
D) Opening Balance Override rules execute for the first period in the year only.

5. Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)

A) Ending Rate
B) Opening Rate
C) Average Rate
D) Local Rate

Solutions: